Burlingame Park Real Estate Update January 2012

The homes that did sell in Burlingame Park in 2011 did so quickly, in an average of about three weeks. The neighborhood averages about one to two sales per month. In January 2012 one home sold. It sold for $1,675,000, five percent above its list price.

There were four unsold homes on the market at the end of January 2012 in Burlingame Park. Typically, inventory increases through the first half of the year as sellers list in anticipation of summer moves. Inventory wanes as the year finishes; buyers make their purchases and homes are taken off the market (or not listed) during the winter months.  In 2011, inventory never increased past five homes. With four homes already on the market right now, there is a possibility that there could be a lot of homes for sale by April/May. It will be important for prospective sellers to keep abreast of the market to see how much competition they have.

Burlingame Park is one of the most expensive neighborhoods in Burlingame, with average and median selling values in excess of $1.5 million. High prices are a product of exceptionally large homes (about 500 square feet bigger on average than Burlingame overall) and price per square feet in line with the city-wide average.

If you're interested in learning more about the Burlingame Park real estate market, considering selling your home in Burlingame Park, or thinking about moving to Burlingame Park, please drop me a line and I'd love to connect with you.

By The Numbers - Burlingame Park Real Estate for January 2012